FTC Solar (FTCI) AI Stock Analysis

• Market Cap: $117.81M
• Dividend Yield: N/A
• Average Volume (3M): 61.02K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.34
• Revenue Growth: -17.53%
• EPS Growth: 8.53%
• Country: US
• Employees: 202
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): -1.18
• Shares Outstanding: 14,874,797
• 10 Day Avg. Volume: 73,135
• 30 Day Avg. Volume: 61,025
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.57
• Enterprise Value/Revenue: 1.05
• Enterprise Value/Gross Profit: -4.36
• Enterprise Value/Ebitda: -1.42
• 1Y Price Target: $6.75
• Price Target Upside: -16.67% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: $9.50 ▲(17.28% Upside)

FTC Solar's overall stock score reflects significant financial challenges, including persistent losses and negative cash flows, which weigh heavily on its valuation. Despite these issues, the stock shows positive technical momentum, suggesting potential short-term gains. The earnings call provided some optimism with strategic financial moves and revenue growth, but market uncertainties and ongoing financial difficulties necessitate caution.

Positive Factors

Innovative Product Offerings

Product innovations like the high hail stow solution and extra-long tracker enhance FTC Solar's competitive edge, offering customers improved flexibility and protection, which can drive long-term adoption and market share.

Strategic Financing

The $75 million financing facility strengthens FTC Solar's balance sheet, providing the financial stability needed to support growth initiatives and expand market opportunities in the renewable energy sector.

Revenue Growth Year-over-Year

A 75% year-over-year revenue increase indicates strong demand for FTC Solar's products, reflecting successful market penetration and the potential for sustained growth in the renewable energy sector.

Negative Factors

Persistent Losses

Ongoing losses and a negative net profit margin highlight operational inefficiencies and profitability challenges, which could hinder long-term financial health and require strategic adjustments.

Negative Cash Flows

Negative cash flows indicate operational and capital challenges, suggesting reliance on external funding and potential difficulties in sustaining operations without significant improvements.

Market Uncertainty Impact

Market uncertainty affecting revenue guidance suggests potential volatility in demand and project execution, which could impact FTC Solar's ability to achieve consistent growth and stability.

FTC Solar Business Overview & Revenue Model

Company Description

FTC Solar, Inc. provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides SunPath, a software solution to enhance energy production; Atlas, a web-based enterprise-level database that allows users to manage their project portfolio; and SunDAT, a software solution enables automated design and optimization of solar panel systems across residential, commercial, and utility-scale sites. Its customers include project developers; solar asset owners; and engineering, procurement, and construction contractors that design and build solar energy projects. FTC Solar, Inc. was incorporated in 2017 and is headquartered in Austin, Texas.

How the Company Makes Money

FTC Solar generates revenue primarily through the sale and installation of its solar tracking systems, which are utilized in large-scale solar power projects. The company offers a range of products, including its proprietary Voyager solar tracker, which is designed to optimize energy output. Additionally, FTC Solar provides software solutions that enhance the performance and management of solar installations. Key revenue streams include direct sales to solar project developers, long-term service agreements for maintenance and support, and potential licensing of its technology. Partnerships with solar energy developers and utilities also play a significant role in driving sales and expanding the company's market reach.

FTC Solar Financial Statement Overview

Summary

FTC Solar is facing financial difficulties with declining revenues, consistent losses, and negative cash flows. The balance sheet remains moderately leveraged, but the company needs to address its operational inefficiencies and improve cash flow management to stabilize its financial health.

Income Statement

FTC Solar's income statement shows persistent losses, with a negative net profit margin and continuous EBIT and EBITDA losses. Revenue has decreased significantly from previous years, indicating a challenging business environment. Although the gross profit margin improved slightly in TTM, the company still faces substantial profitability concerns.

Balance Sheet

The company's balance sheet exhibits a moderate debt-to-equity ratio, suggesting some financial leverage but not excessively high. The equity ratio indicates a low proportion of equity to total assets, which could pose risks. However, the company has managed to maintain some level of equity despite ongoing losses.

Cash Flow

The cash flow statement shows negative operating and free cash flows, reflecting operational and capital challenges. The free cash flow growth rate is negative, indicating cash flow deterioration. However, financing cash flows have been positive, suggesting reliance on external funding to support cash needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	64.13M	47.35M	127.00M	123.07M	270.52M	187.35M
Gross Profit	-15.51M	-12.59M	8.31M	-27.23M	-32.55M	3.64M
EBITDA	-47.69M	-46.04M	-49.00M	-97.30M	-105.37M	-16.88M
Net Income	-46.84M	-48.61M	-50.29M	-99.61M	-106.59M	-17.32M
Balance Sheet
Total Assets	82.95M	89.93M	123.07M	134.40M	243.02M	71.39M
Cash, Cash Equivalents and Short-Term Investments	3.52M	11.25M	25.23M	44.38M	102.19M	32.36M
Total Debt	11.82M	10.63M	1.86M	1.20M	1.79M	1.78M
Total Liabilities	73.91M	70.89M	60.60M	67.95M	100.15M	63.94M
Stockholders Equity	9.04M	19.04M	62.47M	66.45M	142.87M	7.45M
Cash Flow
Free Cash Flow	-30.63M	-36.34M	-53.47M	-55.49M	-133.88M	-767.00K
Operating Cash Flow	-29.84M	-34.70M	-52.66M	-54.51M	-132.85M	-511.00K
Investing Cash Flow	8.10M	6.26M	-397.00K	-4.25M	21.31M	1.87M
Financing Cash Flow	14.50M	14.50M	33.95M	903.00K	180.37M	23.78M

FTC Solar Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 8.10
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FTCI, the sentiment is Neutral. The current price of 8.1 is below the 20-day moving average (MA) of 8.47, above the 50-day MA of 7.63, and above the 200-day MA of 4.88, indicating a neutral trend. The MACD of 0.21 indicates Positive momentum. The RSI at 49.13 is Neutral, neither overbought nor oversold. The STOCH value of 27.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FTCI.

FTC Solar Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FTCI	57 Neutral	$117.81M	-2.18	-175.83%	―	-17.53%	8.53%
TYGO	56 Neutral	$147.26M	-3.40	-177.48%	―	97.41%	11.83%
SOL	47 Neutral	$95.97M	―	-1.27%	―	-33.44%	81.60%
BEEM	47 Neutral	$39.86M	-1.47	-65.81%	―	-49.36%	-32.19%
SPWR	41 Neutral	$134.64M	-2.40	―	―	308.47%	76.84%
MAXN	41 Neutral	$58.80M	―	―	―	-54.68%	63.56%

FTC Solar Corporate Events

FTC Solar Amends Stock Incentive Plan at Special Meeting

On September 4, 2025, FTC Solar, Inc. held a Special Meeting of Stockholders where key decisions were made to amend the company’s 2021 Stock Incentive Plan. The stockholders approved an amendment to reserve an additional 2,000,000 shares of Common Stock under the plan. Additionally, the issuance of 6,836,237 shares of Common Stock upon exercise of certain Warrants was approved, exceeding the exercise caps. These decisions are expected to impact the company’s stock management and potentially influence its market positioning by providing more flexibility in stock incentives and warrant exercises.

The most recent analyst rating on (FTCI) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on FTC Solar stock, see the FTCI Stock Forecast page.

FTC Solar Reports Strong Q2 2025 Revenue Growth

FTC Solar, Inc., a prominent player in the solar energy sector, specializes in providing advanced solar tracker systems designed to optimize solar panel orientation and enhance energy production. In its recent earnings report for the second quarter of 2025, FTC Solar reported a significant year-over-year revenue increase of 74.9%, reaching $20 million, aligning with its target guidance. The company has also secured a $75 million strategic financing facility, which is expected to bolster its financial position and support future growth initiatives.

FTC Solar’s Earnings Call: Mixed Sentiments and Strategic Moves

FTC Solar’s recent earnings call painted a picture of mixed sentiment, highlighting both significant achievements and ongoing challenges. The company reported substantial revenue growth and secured strategic financing, which strengthens its market position. However, the call also underscored financial hurdles such as negative profit margins and market uncertainties, signaling a complex financial landscape ahead.

FTC Solar Announces Board Changes Amid Revenue Surge

On August 5, 2025, FTC Solar announced the resignation of Dean Priddy from its Board of Directors due to retirement, with Tony Alvarez appointed as an Independent Director and Chair of the Audit Committee. The company reported a 74.9% year-over-year increase in second-quarter revenue, reaching $20 million, and secured a $75 million strategic financing facility, positioning itself for future growth and profitability.

The most recent analyst rating on (FTCI) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on FTC Solar stock, see the FTCI Stock Forecast page.